Mortgage Rates 5-20-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The FOMC Minutes this afternoon will trigger an influx of trading. Until then, it will be a quiet day for bond markets. The European market will likely have a significant impact on MBS over the next few days, so keep an eye out for action overseas. Expect mortgage rates to decrease after the FOMC Minutes.

Check back Thursday for initial jobless claims, existing home sales for April, the Philly Fed Business Index for May, and the 10 year TIPS auction; Friday for core CPI index for April and core CPI mm for April.

Tuesday: April housing starts data came in positively. They were at 1.135M instead of the forecasted 1.029M. Also, new permits came in at 1.143M vs the expected 1.070M. These two strong pieces of economic data caused bonds to sell off this morning. Equally as important is last night's commentary from the ECB board member Benoit Coeure. He said the ECB might front-load bond purchases because this summer is expected to bring lower amounts of trading liquidity. In response, mortgages rates have slightly increased before tomorrow's FOMC minutes.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.01% (+0.04).
• 15 year (FRM) rates at 3.25% (+0.02).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.82% (+0.03).
• 5/1 ARM rates at 2.98% (-0.02).

Displaying rates for Mortgage Refinance in CA for $200,000

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Carolina Palmer

Carolina Palmer is the Senior Editor at Lender411. She graduated from Concordia University Irvine with a Bachelor's Degree in Communication Studies and Marketing. She has multiple years of experience in marketing and writing, and has previously worked with 3D Systems and Microsoft.